VINACHEM

The Government targets GDP growth of 6.5 percent to 7 percent next year, Prime Minister Pham Minh Chinh told legislators on Monday.

The Government will strive to push the GDP growth to higher rate of about 7 percent to 7.5 percent, said the Prime Minister.

The Vietnamese economy expanded 7.4 percent in the third quarter, from July to September, and 6.82 percent in the first nine months this year, according to the General Statistics Office.

Following positive performance in the first three quarters, several international financial institutions have revised up Viet Nam's 2024 GDP forecast from their earlier projections.

Singapore-headquartered United Overseas Bank (UOB) has raised its projection for Viet Nam's 2024 GDP growth to 6.4 percent from 5.9 percent thanks to the nation's surprisingly strong performance in the third quarter.

The World Bank (WB) upgraded its 2024 GDP growth forecast for Viet Nam to 6.5 percent in 2024, compared to its previous prediction of 5.5 percent in the April edition.

HSBC has raised Viet Nam's 2024 GDP growth forecast to 7.0 percent from 6.5 percent while keeping 2025 GDP growth forecast unchanged at 6.5 percent.

Standard Chartered Bank has revised up its forecast for Viet Nam's 2024 GDP growth to 6.8 percent from the previous 6 percent, reflecting the stronger-than-expected expansion in the third quarter of the year./.